China’s NBS: China’s economy faces downward pressure.

Following the releases of the disappointing Chinese macro data, the country’s stats bureau, National Bureau of Statistics (NBS) is out with the following takeaways.

China will implement countercyclical adjustments to maintain steady healthy economic development.t

China’s April economic operations within a reasonable range.

China’s economy faces downward pressure.

Surveyed jobless rate fall due to seasonal tightening.

China industrial output fluctuations partly due to VAT cut.